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DBRS upgrades Peru to BBB
DBRS said it upgraded the Republic of Peru's long-term foreign and local currency issuer ratings to BBB from BBB (low). In addition, the short-term foreign and local currency issuer ratings were upgraded to R-2 (high) from R-2 (middle).
The trend remains positive on all ratings.
The upgrade reflects Peru's strong fiscal performance and high rates of growth, which have led to a substantial reduction in public debt and, more recently, the accumulation of fiscal savings, DBRS said in a news release.
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